The New York pension fund for state and local government workers has topped $160 billion after reporting a 10.4 percent return on investment for its last fiscal year, the state comptroller’s office reported Monday.
The Common Retirement Fund’s estimated value was $160.4 billion at the end of March, an all-time high for the fund that pays benefits to more than 413,000 retirees and beneficiaries, said Comptroller Thomas DiNapoli, its sole trustee. It has now restored all $44 billion lost during the recession starting in 2008 and added another $6 billion.
“It remains well-positioned for growth as the financial markets continue to gain strength,” DiNapoli said. The 2014-2015 fiscal year starting next April will be the last with higher employer contributions required reflecting the recession losses, he said.
The fund includes almost 650,000 employees with 82 percent currently working.